confirmation A LITTLE BIT AWAY

bearishness in india markets, seems tobe getting counter attck from us markets.naturally ,we may have hit an important top,looking at the selling pressure seen yesterday,but as i said in the earlier post,4910 is the major level below 5046 to watch.we have seen a very steep fall on hourly charts,such fall cant easily be digested..so expect a corrective rise only..and i hope that we shouldnt close above 5076 for nifty..
the expanding structure i mentioned is giving supports,but it will important to have a rather WEAK support.to continue the downward journey.
a caution..dont ever expect a drastic fall like 2008..this time.markets can do whatever it likes..we have always tobe prepared for all circumstances.

nifty even after gap-up opening, failed at highs around 5046..which was as mentioned earlier..was a strong support level to watch,was broken decisively yesterday,today gave resistance.
reliance chart and comment on it ,posted a few days back is self explanatory..same chart updated n posted today.